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Bulgaria: EUR 2.5 Billion for BDZ

March 2008.

Bulgarian state railways (BDZ) needs EUR 500m in each of the next five years to undergo full regeneration, Bulgarian Transport Minister Petar Moutafchiev said on March 17.

The minister took part in a discussion dedicated to traffic safety at BDZ, organised by several national media in the aftermath of the Sofia-Kardam accident. The Transport Ministry has already endorsed a regeneration plan for BDZ. The plan, that runs until 2017, will be financed with a EUR 120m bond. According to the plan, the state subsidy for the holding company would go up by 40 per cent compared to previous years. Last year, the subsidy reached BGN 100 mln, Railway Market-CEE Review reports.